California Marijuana Tax Money To Fall Well Below Forecasts

LOS ANGELES — Deep in Gov. Gavin Newsom’s new budget is a figure that says a lot about California’s shaky legal marijuana market: The state is expecting a lot less cash from cannabis taxes. The Democrat’s proposed spending plan, released Jan. 10, 2019, projects the state will bank $355 million in marijuana excise taxes by the end of June 2019.